RDP 2004-01: The Impact of Superannuation on Household Saving Equation (B5)

c t = c t y + c t m + c t o W t = w t y + w t m =( e t y − c t y )+( e t m − c t m )+( 1+ r t−1 )( ( e t−1 y − c t−1 y ) ) S t = W t − W t−1 = e t y − c t y + e t m − c t m + r t−1 ( e t−1 y − c t−1 y )−( e t−1 m − c t−1 m )−( ( 1+ r t−2 )( e t−2 y − c t−2 y ) ) MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGJb WaaSbaaSqaaiaadshaaeqaaOGaeyypa0Jaam4yamaaDaaaleaacaWG 0baabaGaamyEaaaakiabgUcaRiaadogadaqhaaWcbaGaamiDaaqaai aad2gaaaGccqGHRaWkcaWGJbWaa0baaSqaaiaadshaaeaacaWGVbaa aaGcbaGaam4vamaaBaaaleaacaWG0baabeaakiabg2da9iaadEhada qhaaWcbaGaamiDaaqaaiaadMhaaaGccqGHRaWkcaWG3bWaa0baaSqa aiaadshaaeaacaWGTbaaaOGaeyypa0ZaaeWaaeaacaWGLbWaa0baaS qaaiaadshaaeaacaWG5baaaOGaeyOeI0Iaam4yamaaDaaaleaacaWG 0baabaGaamyEaaaaaOGaayjkaiaawMcaaiabgUcaRmaabmaabaGaam yzamaaDaaaleaacaWG0baabaGaamyBaaaakiabgkHiTiaadogadaqh aaWcbaGaamiDaaqaaiaad2gaaaaakiaawIcacaGLPaaacqGHRaWkda qadaqaaiaaigdacqGHRaWkcaWGYbWaaSbaaSqaaiaadshacqGHsisl caaIXaaabeaaaOGaayjkaiaawMcaamaabmaabaWaaeWaaeaacaWGLb Waa0baaSqaaiaadshacqGHsislcaaIXaaabaGaamyEaaaakiabgkHi TiaadogadaqhaaWcbaGaamiDaiabgkHiTiaaigdaaeaacaWG5baaaa GccaGLOaGaayzkaaaacaGLOaGaayzkaaaabaGaam4uamaaBaaaleaa caWG0baabeaakiabg2da9iaadEfadaWgaaWcbaGaamiDaaqabaGccq GHsislcaWGxbWaaSbaaSqaaiaadshacqGHsislcaaIXaaabeaakiab g2da9iaadwgadaqhaaWcbaGaamiDaaqaaiaadMhaaaGccqGHsislca WGJbWaa0baaSqaaiaadshaaeaacaWG5baaaOGaey4kaSIaamyzamaa DaaaleaacaWG0baabaGaamyBaaaakiabgkHiTiaadogadaqhaaWcba GaamiDaaqaaiaad2gaaaGccqGHRaWkcaWGYbWaaSbaaSqaaiaadsha cqGHsislcaaIXaaabeaakmaabmaabaGaamyzamaaDaaaleaacaWG0b GaeyOeI0IaaGymaaqaaiaadMhaaaGccqGHsislcaWGJbWaa0baaSqa aiaadshacqGHsislcaaIXaaabaGaamyEaaaaaOGaayjkaiaawMcaai abgkHiTmaabmaabaGaamyzamaaDaaaleaacaWG0bGaeyOeI0IaaGym aaqaaiaad2gaaaGccqGHsislcaWGJbWaa0baaSqaaiaadshacqGHsi slcaaIXaaabaGaamyBaaaaaOGaayjkaiaawMcaaiabgkHiTmaabmaa baWaaeWaaeaacaaIXaGaey4kaSIaamOCamaaBaaaleaacaWG0bGaey OeI0IaaGOmaaqabaaakiaawIcacaGLPaaadaqadaqaaiaadwgadaqh aaWcbaGaamiDaiabgkHiTiaaikdaaeaacaWG5baaaOGaeyOeI0Iaam 4yamaaDaaaleaacaWG0bGaeyOeI0IaaGOmaaqaaiaadMhaaaaakiaa wIcacaGLPaaaaiaawIcacaGLPaaaaaaa@C33D@